LA investor seeking to enter ATL rental market

[Terrence Evans]

Hi everyone,

I am looking over the short term to "come home" (so to speak) to get a couple of rentals.  I am originally from the A - S. Dekalb to be more precise, but lived in LA for some time now.  So right now I am seeking 2 things. 1) investor friendly realtor that has general knowledge of the ATL area but who can answer questions about properties south of I-20 down to S. Fulton, Clayton Cty, and over east to S. Dekalb.  I am focusing on this area because the price points are better for me.  2) General advice on how to reach these goals.  I can set up searches in redfin all day long.  But the trouble is the metro area has changed a lot since I was a kid and maybe there are areas that I shouldn't consider/need to consider or other facts that I need to know - knowledge that I can't glean from those sites. I keep seeing comments that there are no good deals in ATL anymore.  However, my California RE mind sees the prices vs rents and am bewildered by such statements.

As of now, these are my desires in properties:

a house or townhome

built after 2000 - I prefer after 2003

turnkey condition MOST PREFERABLE, but not necessarily a requirement

at least a 3+2

neighborhood well kept and not too much crime

$50-$100K, short sales are acceptable

Close to transportation and/or the fwy

Relatively close to downtown and the airport (10-20 min when there is no traffic)

Seeking cashflow, appreciation much lesser priority

For rent of 800, the PP cannot be exceed 60k

For each additional $100 of rent, the max PP can only increase by about $12.5k.

If you see immediate issues with these desires, PM me so that we can talk about it offline. I do want feedback as I am open to refining this list further. For instance, if you think a 40k 2 bdr condo is a good property, I am open to hearing the reasons why.

Thanks in advance and Go Birds!